Nonprofit finance professionals spend much of their day tracking numbers, reconciling accounts, and ensuring compliance. But in my work across hundreds of organizations, I have found that the greatest threats to financial health are not always found in the spreadsheets or audit trails. They are the risks we don’t see, what I call “risk blind spots.”

Why do these blind spots matter? Because they shape decisions before data even enters the conversation. Maybe it’s the overreliance on one funding stream, the unwritten workaround to a broken process, or the silent assumption that “it won’t happen here.” These invisible risks can quietly undermine your finances, reputation, and mission well before an auditor raises a flag or a budget line turns red.

I recently worked with a nonprofit whose board was surprised by a sudden cash flow crisis. On paper, their internal controls appeared to be robust and where they needed to be. However, a deeper look revealed that staff were informally bypassing procedures to speed up the grant spending process. This was unfortunately something no one had documented or discussed. The real risk was not a missing policy. It was all about a gap in visibility and conversations that did not happen.

How do you spot a blind spot? Start with questions, not checklists.

Here’s the good news: risk management does not require expensive systems or fear-driven compliance. It starts with honest dialogue and a willingness to surface what is hidden. The best nonprofit finance leaders I know do not just manage numbers, they create a culture where people feel safe sharing concerns, raising “what-ifs,” and surfacing issues early.

A few practical steps:

When you bring risk out of the shadows, you don’t just protect your finances you strengthen your organization’s integrity and resilience. That’s the kind of leadership every mission-driven organization deserves.

Elena Yearly, MBA, ACC - Elena Yearly is the founder and CEO of EMY Consulting, where she helps nonprofit and association leaders uncover risk blind spots before they become costly surprises. With more than 20 years of experience in enterprise risk management, financial leadership, and board consulting—including extensive work with nonprofits, associations, and public sector teams, Elena is known for transforming complex, often-avoided topics into accessible, actionable conversations. Her signature keynote, “Sleeping with Snakes: Rethinking Risk as Opportunity for Strategic Growth,” has reached leaders on conference stages and global webinars alike, including her upcoming program for the Institute of Internal Auditors’ 2026 global series. Elena is a frequent advisor to mission-driven organizations seeking to strengthen risk culture, sharpen decision quality, and build resilience in fast-changing environments. Elena is also an ANAFP corporate member. Connect with Elena at eyearly@emyconsulting.biz or LinkedIn.